On November 8, voters in Fairfax County, Virginia will be asked to approve a 4 percent add-on sales tax on prepared food and beverages. Together with the regular sales tax, which is 6 percent in Northern Virginia, the...
The facts on Missouri’s Tax Climate
6%Individual Income TaxTop rate
6.25%Corporate Income Tax
4.225%Sales and Excise Taxes
$977Property Taxcollections per capita
Missouri's Individual Income Tax System
Missouri's individual income tax system consists of 10 brackets with a top rate of 6%. The top rate ranks 19th highest among states levying an individual income tax. Missouri's state and local tax collections per person were $942 in 2013, which ranked 28th highest nationally.
50-State Table of Individual Income Tax Rates
Missouri's Corporate Income Tax System
Missouri's corporate income tax system consists of a flat rate of 6.25%. That rate ranks 31st highest among states levying a corporate income tax. Missouri's state and local corporate income tax collections per person were $75 in 2013 which ranked 43rd highest nationally.
50-State Table of Corporate Income Tax Rates
Missouri Sales and Excise Taxes
Missouri levies a 4.225% general sales or use tax on consumers, which is below the national median of 5.95%. The average local sales tax rate is an additional 3.6%. Missouri's state and local governments collect $880 per person in general sales taxes and $384 per person in excise taxes, for a combined figure of $1,264, which ranks 39th highest nationally. Missouri's gasoline tax stands at 17.3 cents per gallon, 46th highest nationally, while its cigarette tax stands at $0.17, 50th highest nationally.
50-State Table of State and Local Sales Tax Rates
Missouri Property Tax Collections Relatively Low
Missouri's state and local governments collected approximately $977 per person in property taxes in 2013, which ranks 34th nationally.
Tax Freedom Day Arrives on April 13th in Missouri
Tax Freedom Day is the day when Americans have finally earned enough money to pay off their total tax bill for the year. In 2016, Missouri taxpayers have to work until April 13th (12th earliest nationally) to pay their total tax bill.
Missouri's State and Local Tax Burden Ranks 29th
Missouri's 2016 Business Tax Climate Index Ranks 17th
Missouri ranks 17th on the Tax Foundation's State Business Tax Climate Index. The Index compares the states in five areas of taxation that impact business: corporate taxes (3rd), individual income taxes (28th), sales taxes (23rd), unemployment insurance taxes (12th), and taxes on property (8th), including residential and commercial property.
State Business Tax Climate Index (full study)
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